Israel Chemicals supply 500,000 tonne potash Chinese customers

Israel Chemicals to supply 500,000 tonne potash to Chinese customers

5:16 PM, 7th July 2011
Israel Chemicals to supply 500,000 tonne potash to Chinese customers
Dani Chen, President and CEO, ICL Fertilizers.


TEL-AVIV, ISRAEL: Israel Chemicals’ (ICL), ICL Fertilizers segment will supply its Chinese customers with 500,000 tons of potash over the second half of 2011 within the framework of its existing supply agreements. ICL’s new price is similar to current prices recorded by other potash suppliers and is approximately $70 a ton higher than selling prices to China during the first half of 2011.

The agreements for the second half of the year bring to one million tonne the amount of potash that ICL has contracted to sell to its Chinese customers during 2011. The number of ICL’s Chinese customers has increased since 2010.

The new agreement shows ICL’s major logistical advantage as a potash exporter to Southeast Asian markets. ICL Fertilizers’ primary source of potash is from the Dead Sea which is in closer proximity to Asian markets than most potash producers.

“Our agreements with Chinese customers for the second half of the year demonstrate our market position for the large Chinese market. We are proud to play a prominent role in increasing agricultural output and food production throughout the world, especially in markets with fast-growing populations, such as China,” said Dani Chen, President and CEO, ICL Fertilizers.

© WOC News




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